Scams & Methods Licensed Money Lender Will Never Use!
Make Sure Your Loan is Secured by the Property – For most real estate investors, this is common sense, but our office consistently receives calls from private lenders asking us about options when the borrower fails to pay, only to find out that, because they failed to secure their investment by the real estate, their only recourse is to sue their borrower and hope their borrower has assets Licensed MoneyLender Singapore to pursue. If you wish, you may learn about all the moneylending law governing a legal loan at our blog. While bank rates tend to range from 5% to 7% (and to 25% for credit card debt) per year, licensed money lenders can charge 30-40% per month. If you are looking for a reliable legal loan provider for all sorts of financial needs, give us a call.
This information will give you a better idea about the licensed moneylender that you’d like to obtain money from. Interest Rate: You can be sure that licensed money lender in Singapore would charge appropriate interest rate whether it is personal loan, secured loans or business loans.
Licensed lenders will not try to use heavy jargons, hide excessive interest rates or mislead you behind the loan agreement. Hard money lenders typically offer short-term loans or bridge loans” backed by the value of the property instead of the creditworthiness of the borrower.
We provide fast cash loans to Singapore residents, PR and foreigners who hold valid Foreigner employment passes. The attorneys at KKOS Lawyers are here to assist you in answering your questions about your private money deal. These institutions possess valid and updated operational license that are in line with those that are posted at the Registrar of Money Lenders’ Office.
Compare the rate of interest required by different lenders and select lender for you accordingly. The hard money lender pools money from private individuals by selling interests in a manager-managed legal entity such as a limited liability company, usually called a Fund,” where the Fund makes the loans to borrowers.